The Bitcoin Bill in Utah State has passed the state, but without the foundation stone, a condition that would make it the first American state with his Bitcoin reserves.
HB230 “Blockchain modifications and digital innovation” invoice Now the citizens of Utah provides only basic nursery protection, the right to Bitcoin (BTC), running a knot and participating in Stokeing, among other things.
19-7-3 vote To pass the procedure on March 7, it means that the draft law is now heading to the office of the governor of Utah Spencer Coxs to be signed in the law.
The reserve condition would allow the Utah Secretary to invest up to 5 % of digital assets with the maximum market, which exceeds $ 500 billion during the last evaluation year in five government accounts – with Bitcoin as the only digital asset that currently fulfills these standards.
The second reading reserve condition passed, but it was canceled in the third and final reading. Utah’s house then Agree With amendment to a vote 52-19-4.
“There was a lot of concern with these provisions and early dependence on these types of policies,” one of the sponsors of the draft law, Senator Kirk A. Colim, He said At the March 7th floor session in Utah.
“All of this has been stripped of the bill.”
Senator Utah Kirk State confirmed. HB230 modification to cancel the backup condition. source: Utah Legislative Council
Until March 7, Utah seemed likely to become the first American country to adopt the Bitcoin Reserve, Dennis Porter, CEO of Satoshi Action Fund on February 2.
Two of the Bitcoin Law in Arizona and the closer Texas Law draft until it is transferred to the law, Bitcoin laws Data He appears. Each of these laws has obtained a successful vote in the Senate committees for each of them and is now awaiting the final floor vote in the Senate.
The race to create Bitcoin reserves at the American state level. source: Bitcoin laws
Among the 31 Bitcoin Reservation Bill, which was presented, remains 25, including IOWA, Iowa, Kentucky, Maryland, Massachusetts, New Hampshire, New Mexico, North Dakota, Ohio and Oklahoma.
Bills such as Pennsylvania, Montana, Kentucky and North Dakota failed.
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This comes at a time when US President Donald Trump has signed an executive thing that creates the Bitcoin Reserve a federal strategy on March 7.
Bitcoin Reserve will be provided with Bitcoin obtained through confiscation in criminal cases, while treasury and trade secretaries are directed to develop neutral budget strategies to buy more bitcoin.
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